Search found 35 matches

by TruthHurts87
Fri Nov 01, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Unable to surrender Universal Life policy. Need advice.
Replies: 8
Views: 953

Re: Unable to surrender Universal Life policy. Need advice.

Thank you all for the suggestions. I've asked them to stop the recurring payments based on all your recommendation. Is it really that big of a difference to the insurance company to have someone stop paying the premiums and letting the policy lapse than letting them surrender the policy instead? Las...
by TruthHurts87
Fri Nov 01, 2019 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Unable to surrender Universal Life policy. Need advice.
Replies: 8
Views: 953

Unable to surrender Universal Life policy. Need advice.

Hello fellow BH's! I am in the final step of assisting someone get term life and terminate their UL policy. I need further help. Please see below. The person reached out to request a policy surrender form. The insurance company said the person is unable to surrender their UL policy due to the terms ...
by TruthHurts87
Wed Oct 23, 2019 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Best credit card for 2 mil+ in annual spending?
Replies: 60
Views: 6540

Re: Best credit card for 2 mil+ in annual spending?

I'm in a similar situation as you, OP. I too have no use for travel cards and prefer cash back. I have the Citi DC which I use for personal spend only. For my business(es) spend, I use the Capital One Spark 2% Cash. There is a $95 fee after the first year, which Cap1 permanently waived for me (reque...
by TruthHurts87
Wed Oct 23, 2019 6:09 am
Forum: Personal Finance (Not Investing)
Topic: Need help reviewing term policy
Replies: 4
Views: 355

Re: Need help reviewing term policy

Thank you all for this information and clarifying things! The person has decided to proceed with this offer. Another thing, when the insured proceeds with the term policy, how soon after can they drop the universal life policy? Will the new insurer be concerned? They did ask during the application p...
by TruthHurts87
Tue Oct 22, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Need help reviewing term policy
Replies: 4
Views: 355

Need help reviewing term policy

Can I please get assistance reviewing this level term policy? I'm helping a person transition from a universal life policy to a level term policy. Is there anything that stands out to you that doesn't seem right? Will the policy still continue after the 30 years term? What is the $200,000 minimum fa...
by TruthHurts87
Thu Oct 10, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Could HSAs work for those with chronic illness?
Replies: 3
Views: 384

Could HSAs work for those with chronic illness?

Do HSAs make sense for those diagnosed with a chronic illness? Say a person has an incurable condition, but stays in and out of remission. Only takes their daily meds and frequents the doctor couple times a year for follow ups. They may consider taking specialty drugs which can cost $3k-$10k per mon...
by TruthHurts87
Mon Sep 30, 2019 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: New to FI.. Suggestions on my personal finance breakdown?
Replies: 3
Views: 529

Re: New to FI.. Suggestions on my personal finance breakdown?

I highly recommend you read or listen to "I Will Teach You To Be Rich" second edition by Ramit Sethi. It will guide you on how to automate your savings and investing and which accounts you need to open.
by TruthHurts87
Sat Sep 28, 2019 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Where to put a year's worth of living expenses?
Replies: 10
Views: 1072

Re: Where to put a year's worth of living expenses?

I personally use Ally high yield savings (1.90%) and Marcus high yield savings (2.00%). Opened the Marucs account recently to take advantage of the 1% bonus.
by TruthHurts87
Mon Sep 23, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Freedom Q4 category - how to use? [2019]
Replies: 48
Views: 4398

Re: Chase Freedom Q4 category - how to use?

I'll be purchasing gift cards via PayPal. Search for online retailers who accept PayPal to purchase gift cards. For example, I have three Discover cards in my household. I used them all to max out Discover Q3 5% PayPal category by purchasing gift cards. Got $225 CB for buying gift cards to places I ...
by TruthHurts87
Mon Sep 23, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Need help opening a HELOC
Replies: 20
Views: 1443

Re: Need help opening a HELOC

In the real world HELOCs can be frozen at any time. I had a big one with GMAC with a lot of available credit that magically vanished in 2008. Just something to be aware of. That's what I heard as well. I feel it's best to open it now and have them close it later if lending starts to tighten, than n...
by TruthHurts87
Mon Sep 23, 2019 10:24 am
Forum: Personal Investments
Topic: Real Estate investment college town condo?
Replies: 22
Views: 1784

Re: Real Estate investment college town condo?

If you do decide to move forward, I highly suggest you get their parents to always co-sign the lease.
by TruthHurts87
Sun Sep 22, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need help opening a HELOC
Replies: 20
Views: 1443

Re: Need help opening a HELOC

If you have Third Federal Savings in your area, they have fantastic deals on HELOCs. Mine is Prime - 1.01%, no closing costs or annual fee: https://www.thirdfederal.com/ I do! I will look into them as well. Just glanced quickly, but they seem to have a $65 annual fee, which is waived for the first ...
by TruthHurts87
Sun Sep 22, 2019 11:54 am
Forum: Personal Investments
Topic: Update Post Sale of Business! - Pay Off Home or Not?
Replies: 51
Views: 2932

Re: Update Post Sale of Business! - Pay Off Home or Not?

Pay it off in one lump sum. I was the same age as you when I paid off my mortgage last year. One of the best decisions I've ever made. I sleep easy knowing I'll never have to worry about losing my home or if I am laid off tomorrow how I'll make my mortgage payments. Still have to stay on top of pro...
by TruthHurts87
Sun Sep 22, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Need help opening a HELOC
Replies: 20
Views: 1443

Re: Need help opening a HELOC

Thank you all for your help! I dreaded the loan process when I purchased my home. It was a new construction and the lender would ask the builder to hault construction if I were even a few hours late supplying documents. Which is why I prefer to open a HELOC where I don't have to supply tax returns a...
by TruthHurts87
Sat Sep 21, 2019 6:27 pm
Forum: Personal Investments
Topic: Update Post Sale of Business! - Pay Off Home or Not?
Replies: 51
Views: 2932

Re: Update Post Sale of Business! - Pay Off Home or Not?

Pay it off in one lump sum. I was the same age as you when I paid off my mortgage last year. One of the best decisions I've ever made. I sleep easy knowing I'll never have to worry about losing my home or if I am laid off tomorrow how I'll make my mortgage payments. Still have to stay on top of prop...
by TruthHurts87
Sat Sep 21, 2019 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Need help opening a HELOC
Replies: 20
Views: 1443

Need help opening a HELOC

I paid off my home last year and thought it'd be a good idea to open a HELOC now in the event of an economic downturn. I would like to keep the line open and not draw any funds. Just for emergencies only. I inquired first with my credit union, which I joined beginning of the year. They will begin ac...
by TruthHurts87
Mon Sep 16, 2019 12:58 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads, how are your three fund portfolios doing?
Replies: 45
Views: 4918

Re: A one-fund portfolio?

Currently have a one fund portfolio, VTSAX. Will keep it this way for the next 8-10 years. TruthHurts87: Are you aware that VTSAX (Total Stock Market Admiral) should be expected to decline at least 50% during the next bad bear market? If you sell at the bottom, half your life savings will be gone. ...
by TruthHurts87
Mon Sep 16, 2019 10:38 am
Forum: Investing - Theory, News & General
Topic: Bogleheads, how are your three fund portfolios doing?
Replies: 45
Views: 4918

Re: Bogleheads, how are your three fund portfolios doing?

Currently have a one fund portfolio, VTSAX.

Will keep it this way for the next 8-10 years.
by TruthHurts87
Tue Aug 27, 2019 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Coverage
Replies: 12
Views: 1052

Re: Umbrella Coverage

I think “reside in Florida” is the issue. I am in FL and my $1mm umbrella is a bit over $600/year, also with 3 drivers but 4 cars. I elected uninsured/underinsured coverage on the umbrella policy. This is a significant part of the cost. My auto is with Progressive and the umbrella is with American ...
by TruthHurts87
Mon Aug 26, 2019 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Coverage
Replies: 12
Views: 1052

Re: Umbrella Coverage

So I began with calling Geico for umbrella coverage since I have my auto with them. I have 3 members in my household (including me) and 3 vehicles on the auto policy. No one below age 25 or over 70. Clean driving history. They're quoting me $501 for $1m, $827 for $2m, $1202 for $3m. I asked the age...
by TruthHurts87
Mon Aug 26, 2019 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Coverage
Replies: 12
Views: 1052

Umbrella Coverage

So I began with calling Geico for umbrella coverage since I have my auto with them. I have 3 members in my household (including me) and 3 vehicles on the auto policy. No one below age 25 or over 70. Clean driving history. They're quoting me $501 for $1m, $827 for $2m, $1202 for $3m. I asked the agen...
by TruthHurts87
Tue Aug 20, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Discover cash back Credit Card - Interest charges
Replies: 36
Views: 1899

Re: Discover cash back Credit Card - Interest charges

Trailing interest. As others have said, pay off statement balance before due date to avoid it.

Also Discover is one of the few that offers a temporary APR reduction (0% for 12 months) or a permanent reduction. Call them to see if there are any offers available for you.
by TruthHurts87
Tue Aug 20, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Credit card annual fee coming up - what to do?
Replies: 25
Views: 2898

Re: Credit card annual fee coming up - what to do?

Downgrade to the VentureOne (no AF).
by TruthHurts87
Sat Nov 24, 2018 3:05 pm
Forum: Personal Consumer Issues
Topic: Black Friday 2018
Replies: 123
Views: 16687

Re: Black Friday 2018

Purchased two Nest 3rd Gen thermostats. Also looking to get a Nest Hello doorbell on Cyber Monday.
by TruthHurts87
Thu Nov 15, 2018 2:09 pm
Forum: Personal Consumer Issues
Topic: Help with choices for new car
Replies: 28
Views: 2707

Re: Help with choices for new car

I own a 2016 Lexus NX 200t F-Sport. Ultra white with rioja red interior. All the bells and whistles included. Am in love with it. As for your requirements: 1. Forward-collision warning. Yes. You can set the distance you feel the car needs before it beeps the warning light. 2. Automatic emergency bra...
by TruthHurts87
Tue Nov 13, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Would you invest CC cashback into market??
Replies: 32
Views: 1724

Re: Would you invest CC cashback into market??

Dollar cost average your CC reward every month. Rome is not built in one day. This is exactly what I do every month. I receive 2% CB from my Cap1 Spark for business purchases and get anywhere from $1000-$1300 per month in CB. Request a check at the beginning of every month, mobile deposit it to my ...
by TruthHurts87
Mon Nov 12, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Which Credit Cards Will I Get Approved for with no Credit Score?
Replies: 7
Views: 773

Re: Which Credit Cards Will I Get Approved for with no Credit Score?

Don't bother with Chase. They like to see at least one year of credit history before they extend credit. It'll be an automatic rejection. Do try Discover and Capital One. They love no history/thin profiles. Check both of their pre-qual pages to see if there are any offers available to you. Discover ...
by TruthHurts87
Mon Nov 12, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: How many of you have cut the cord?
Replies: 244
Views: 33365

Re: How many of you have cut the cord?

Cut the cord 1.5 years ago. Was paying $300+ for cable and internet with Spectrum. Now I have a free subscription of Netflix through T-Mobile. 100 mbps internet and landline is $90. I have home security which requires a landline. That is the only reason I'm paying $20 for the line. Anyone have sugge...
by TruthHurts87
Fri Nov 09, 2018 1:32 pm
Forum: Investing - Theory, News & General
Topic: Best Finance/Stock Market Films
Replies: 34
Views: 2050

Re: Best Finance/Stock Market Films

Too Big To Fail.
by TruthHurts87
Tue Oct 23, 2018 9:44 am
Forum: Personal Investments
Topic: For those who paid off house - how did you do it?
Replies: 97
Views: 8584

Re: For those who paid off house - how did you do it?

I did option #1, but with a lower amount towards principle. I paid off my mortgage 3 months ago. It was a 30 year fixed paid in 6 years and 9 months at age 31. I own and manage businesses and real estate so I never really invested in the market until I found this forum earlier this year. Everyone I ...
by TruthHurts87
Sun Sep 09, 2018 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 295
Views: 40040

Re: Do you have an umbrella policy?

Just got auto with geico and they quoted me online at $546/year for $1mm, which I feel is too high. Should I call in to get a quote instead? Where else can I get a standalone policy for less?
by TruthHurts87
Mon Jul 30, 2018 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off...best method?
Replies: 23
Views: 3166

Re: Mortgage Pay Off...best method?

It's done! :D

ACH via phone was smooth. Will receive PIF letter and escrow check soon. Deed within 45 days.

Greatest feeling in the world!
by TruthHurts87
Mon Jul 30, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off...best method?
Replies: 23
Views: 3166

Re: Mortgage Pay Off...best method?

I want to thank everyone for their response and suggestions! I called the lending bank and they only accept cashier's checks in branch. No ACH or wiring options available. My bank where the funds are is an online only bank. It would be tough to get a cashier's check out to me in time. Looks like I'l...
by TruthHurts87
Sun Jul 29, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off...best method?
Replies: 23
Views: 3166

Re: Mortgage Pay Off...best method?

If you are 31 based on your userid, the simplest answer is don’t pay it off. Yes, I am 31. Any reasoning as to why not pay it off? I got the loan in 2011 @ 4.5% 30 yr conventional, but never refinanced since then. I don't have any debt besides the mortgage. I am self employed, so I only have a Roth...
by TruthHurts87
Sun Jul 29, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off...best method?
Replies: 23
Views: 3166

Mortgage Pay Off...best method?

Hello all! First time poster here. I requested a pay off letter and I received it yesterday. I was wondering what is the best method for paying off the mortgage? I was given a few options, such as: send certified check, go to the branch, wire the funds (involves fees), ACH pull from my bank account....